The historic Neiman Marcus store in downtown Dallas will officially close its doors this fall after months of speculation.
The Dallas-based company, which was acquired by Saks Global in 2024, will close the location at the end of September and turn its focus to its NorthPark Center location, the Dallas Morning News reports.
The flagship store has served as a luxury fashion beacon in the central business district landscape for over 100 years. The move comes as the luxury retail conglomerate undergoes a bankruptcy process.
Saks Global filed for Chapter 11 bankruptcy protection in January amid rising competition and substantial company debt following the roughly $2.7 billion purchase of Neiman Marcus.
While a May 26 filing indicated intent to retain the downtown lease, company CEO Geoffroy van Raemdonck said the decision to close is final.
“The rationale is really we’ve looked at multiple criteria, but it’s mostly the criteria of what are the customer preferences and where is demand, and what we see is that there’s a shift in the retail map in Dallas," he told the Dallas Morning News.
The downtown store is one of several stores set to close across the country as the company undergoes a restructuring process.
Van Raemdonck said that the location was no longer profitable, with declining sales in 2025.
A lease dispute between the company and city officials first threatened to close the location in March 2025 before the parties announced the store would remain open through the 2025 holiday shopping season. Until today, its future remained uncertain.
The planned closure is the latest in a series of blows to the downtown business landscape with the planned exits of AT&T, Fifth Third Bank, and the NBA’s Dallas Mavericks from the area.
The future of the historic downtown building is currently unclear, the Dallas Morning News reports. However, Neiman Marcus plans to incorporate elements of the store’s legacy into the NorthPark Center location, like its dining option The Zodiac Room.
Affected employees who qualify will be offered transfer opportunities and separation packages where possible, the company said.
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